Markets have a strong tendency to reinforce the status quo. The free market dictates that countries stick to what they are already good at. Stated bl… - Ha-Joon Chang

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Markets have a strong tendency to reinforce the status quo. The free market dictates that countries stick to what they are already good at. Stated bluntly, this means that poor countries are supposed to continue with their current engagement in low-productivity activities. But their engagement in those activities is exactly what makes them poor. If they want to leave poverty behind, they have to defy the market and do the more difficult things that bring them higher incomes—there are no two ways about it.

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About Ha-Joon Chang

(Hangul: 장하준; hanja: 張夏准; born 7 October 1963) is a South Korean institutional economist specialising in . Currently a reader in the Political Economy of Development at the University of Cambridge, Chang is the author of several widely discussed policy books, most notably Kicking Away the Ladder: Development Strategy in Historical Perspective (2002). In 2013 Prospect magazine ranked Chang as one of the top 20 World Thinkers.

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Additional quotes by Ha-Joon Chang

[W]hen it comes to basic income, please do not just look at the demand side, but also look at the supply side. ...Whatever amount of income they're going to give you... how are they going to provide those basic ? Some proposals are progressive, but some are not. Some haven't even thought about this. You need to look at both aspects.

[N]ow the UK government is... paying 80% of salaries of millions of workers, although this is supposed to wind down over time. ...[T]he German government ...so famous for , basically abolished this law that put the ceiling on public debt because... the German government realized that they... cannot manage this... in compliance with that law... Many governments are... subsidizing, and lending at subsidized interest rates... [to] many many companies. Some governments are talking about issuing [s] with the negative interest rate... Every conventional wisdom in the neoliberal playbook has been... destroyed.

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